MOSCOW, June 26. /TASS/. Global crypto exchanges liquidated the positions of over 148,000 traders worth more than $1.07 bln in the past 24 hours, according to data from the Coinglass platform.

Coinglass data shows that the majority of liquidations occurred in Bitcoin ($488.95 mln). Around $842 bln in liquidations were for long positions, while $226 mln were for short positions. The largest liquidation order over the past 24 hours was submitted on the Hyperliquid crypto exchange for the BTC-USD pair valued at $38.05 mln.

The value of the top two cryptocurrencies by market capitalization, Bitcoin and Ethereum (ETH), is showing a decline. According to Binance data, the price of Bitcoin was down by 2.71% at $59,968, while the price of Ethereum was down by 5.66% at $1,551.06.

According to Coinmarketcap, the cryptocurrency market capitalization totaled $2.06 trillion. Bitcoin accounted for $1.2 trillion (58.3%), while Ethereum accounted for $187.5 bln (9.1%).

Cryptocurrency liquidation is the forced closure of a trading position by an exchange when leverage is used (a mechanism allowing a trader to manage a position using funds borrowed from the exchange or broker) due to insufficient funds to maintain the trade. It occurs when losses on an open position exceed the size of the initial trade, serving to protect the trader from debt and the exchange from risk.